Welcome to the show! Today’s guest is Casey Powers, Broker and Property Manager at Strawberry Realty Property Management in Las Vegas, Nevada. Casey is here to chat with us about the new iBuyer phenomena that has hit the real estate industry, what iBuyer means and how agents can compete.

Casey breaks down how she believes traditional real estate agents can fight back in this market and how having the means to make cash offers on homes allows agents to keep a level playing field. She also talks about why these new convenience based companies are making property managers nervous and what it means for the rental market down the road. 

Listen in as this conversation brings to light what is happening with Amazon and Zillow, the pros and cons to the iBuyer concept and the choices that consumers now have to make between convenience and knowledge.

Show Notes

[03:03] Brad introduces Casey Powers

[05:20] Casey is a secret shopper for Ibuyer, how did she get into it?

[06:13] What is the Ibuyer concept?

[08:20] Are they offering market rates?

[08:39] Do they charge higher fees than the traditional real estate agent?

[09:51] Is there a conflict of interest?

[11:09] Are the Ibuyer reps licensed agents? Do they work for the consumer or these companies?

[12:42] Do they give a fair market estimate for the value of the home? 

[15:49] How does this practice affect the comps in the area?

[17:22] What impact do the Ibuyer companies have on traditional real estate agents? The property management companies?

[20:16] What do they do with all the properties they are buying? Renting? Flipping?

[23:08] Can they manipulate the rental market rates?

[24:31] Are there any government regulations they have to overcome? Are there Ethics violations?

[26:10] How can real estate agents compete with these Ibuyer companies? Cash buyers?

[29:43] Is it possible for an agent or property management company to compete by setting up cash sales with the buyers?  How?

[32:25] Are they buying occupied homes? Renter occupied? Or are they just buying vacant homes?

[38:48] Casey talks about the new Zillow brokerage and Amazon brokerage how does these work? 

[42:38] What has the reaction been to Zillow charging for listing properties?

[47:29] Should property managers refuse to pay Zillows’ fees?

[48:56] What is the best thing Casey has done in the last 12 months to improve her business?

[53:46] Casey says that Amazon has an ad that they send to people through their Alexa device.

[56:01] Did someone in particular point you in the brokerage direction?

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

 

For Conference information https://pmmcon.com/